SEBI says Sahara's overvalued properties are without original title deed

SEBI told the Supreme Court that Sahara group has overvalued its properties and did not hand over all original title deeds of assets worth Rs20,000 crore

Market regulator Securities and Exchange Board of India (SEBI) on Wednesday told the Supreme Court that Sahara group has overvalued its properties and did not hand over all original title deeds of assets worth Rs20,000 crore as per the directions of the apex court.


SEBI said that SC's order has not been complied with by the Subrato Roy-led Sahara group and assets whose documents were given to the market regulator is worth much less than Rs20,000 crore.


A bench of justices KS Radhakrishnan and JS Khehar expressed displeasure on the issue but refrained from passing any order as the Sahara's arguing counsel was not present in the court.


"It is a mockery of our order if it has been complied with in this way," the bench said and posted the case for hearing on Thursday after Sahara sought adjournment on the ground of non availability of its counsel.


Sahara has given documents of two plots of land in and around Mumbai to SEBI. One of the two properties is a 106-acre land in Versova, a western suburb, which according to it is worth around Rs19,000 crore. The other is a 200-acre land in Vasai, which it estimates to be worth about Rs1,000 crore. The valuation of the properties by Sahara is challenged by SEBI.


SEBI contended that a portion of the properties were in the "thick" of litigation.


Holding that it was playing "hide and seek" and cannot be trusted any more, the Supreme Cour on 28th October directed Sahara group to hand over title deeds of its properties worth Rs20,000 crore to SEBI. The apex court also warned that failure to comply its order to the satisfaction of the market regulator within three weeks would mean Sahara chief Subrata Roy cannot leave India.


Heart attack: Cholesterol and statins are the biggest medical fraud of the century

We have been fooling the public all through by manipulating in every field of science and medicine. Heart attacks, cholesterol and statins are only the present avatar of this fraud!

If I could live my life over again, I would devote it to proving that germs seek their natural habitat, diseased tissue – rather than being the cause of the diseased tissue.”

                                                                                                        -Rudolph Virchow

The Second World War was a great event in the history of the world as also in the history of so called scientific developments in Europe. Science got a fillip with the success of the atom bomb, although that was the first indication of how reductionist science could be used for power and money! Prosperity came to Europe since that war. With prosperity comes better living standards, making people want to buy more and consume more.


Fredrickson was the first who studied the relationship between increased fat intake and incidence of coronary heart disease. He was successful in showing that the rise in heart diseases was directly proportionate to the increased intake of fat. Thus was born the ‘fat theory’ which is a bane to mankind even to this day, despite the fact that many famous researchers like John Yudkin, Peter Taggart and others had shown similar relationship between sugar intake and buying clothes, etc. They were only co-variants and not cause-effect relationships.


The medical industry was quick to grasp this opportunity to sell drugs and food to lower fat intake. The Diet-Heart Study, which started in 1954, showed that diet had NOTHING to do with heart disease as long as one does not overeat. This report was conveniently brushed under the carpet as the industry had already come up with crude drugs like Cholestyramine to reduce blood fats in diet.

In 1957, one of the first studies testing the idea that substituted polyunsaturated fat with saturated fat in the diet that would lower cholesterol and protect against heart attacks, was launched in New York. This was the beginning of the many such fraudulent studies. A new medical fraud and science fraud was perpetrated on mankind to sell more statins to reduce fats in the blood was done by the American Guidelines’Committee.

“An online calculator designed to help doctors assess heart disease risk is flawed, a problem that could result in millions of people being prescribed statin drugs who don’t need them”, the New York Times reported.

How the first medical fraud and science fraud was committed? The 1957 study was done (on 1,100 subjects) to show that replacing saturated fats in diet with polyun saturated fats will lower blood fat levels. The study DID show that but it also showed that this effort increases death at the end of the day. The second sacred truth is being suppressed even to this day. There have been numerous such studies as also studies of cholesterol lowering with chemical drugs over the last six decades and ALL OF THEM did show that total mortality increased whenever the artificial lowering of cholesterol or replacing saturated fat with polyunsaturated fats was attempted!

The climax came in a very expensive study which ran for 25 years called the MRFIT (Multiple Risk Factor Interventional Trial). The results showed that while risk factors could be reduced by our interventions THE RISK OF PRECOCIOUS DEATH increased significantly. MRFIT was just a boondoggle. There were no risk factors as far as the MRFIT study was concerned. They had studied sugar, fats, blood pressure etc. in that study. All the benefits of lowering these parameters called risk factors did not reduce the risk of early death.

Dr Norman Jollife, director of the New York City Health Department, was convinced that the hefty intake of saturated fat common at that time was one of the driving forces in the development of coronary heart disease. He recruited about 1,100 male subjects into a group he styled as the ‘Anti-Coronary Club’. The subjects consumed this Prudent Diet for several years, and cholesterol levels fell fairly markedly.

One can see how this Prudent Diet study results were sexed up and published to show enormous benefit thus:

  • Cholesterol levels fell sharply in those that ate the polyunsaturated fat-rich diet. Along the way, the researchers released interim results that caught the attention of the press. The New York Times published an article on the study in 1962 and another in 1964. Both presented the studies as showing major health improvements in the intervention group following the Prudent Diet.
  • The results were finally published in the JAMA. The trick of the trade was to show the drastic reduction in blood fat levels in the subjects and also a marginal fall in non-fatal heart attacks, but was silent on the increased total deaths in that group.
  • When you read the body of the paper it is very clear that a significantly higher percentage of people died in this group compared to the controls! According to, ”There were 26 subjects who died during the study, while only six subjects died from the control group. It gets even worse when you look at heart disease, the very problem this diet was designed to prevent.”


Science was always done that way to push the idea that needs to be pushed and the rest to be obfuscated. If one reads the wonderful book by Richard Rhodes titled ‘The Making of the Atomic Bomb, you will be more than convinced how science is really supposed to be done. Two more books would add to that knowledge, nay wisdom. They are Against Method by Paul Feyerabend, former Professor of Science philosophy at London School of Economics, a physicist himself. The second is ‘The New Paradigm’ by John OM Bockris, a distinguished professor of Chemistry at the A& M University in Texas.

The sad truth is that with the advent of money into the practice of medicine this kind of deceit has been there for centuries. No one in the medical world, leave alone the students, has heard of that great scientist who opposed our God in medicine, Louis Pasteur about his germ theory. Professor Pierre Jacques Antoine Bechamp, professor of chemistry at the University of Montpelier in France and a Chevalier of the French Legion of Honour, who had proved Louis Pasteur wrong in that he showed that germs are not the cause of diseases but are the extension of diseases.  He also showed that Pasteur was wrong in his fermentation theory. Again, Bechamp showed how Pasteur plagiarised the work of Geronimo Fracastorio, an Italian, who had demonstrated germs which he called Seminaria Contagionum almost 300 years before Pasteur. 

Antonie van Leeuwenhoek had demonstrated these germs through his simple microscope and had written about them as far back as 1683. So, Pasteur was not the father of this theory. But ‘germ theory’ had money behind it and it flourishes even today with the antibiotic resistance threatening to annihilate mankind!

Bechamp’s theory is coming back to prominence now that it the immune system which is at the root of all infections, even cancer. Germs are only secondary invaders. Florence Nightingale said, “Diseases are not individuals arranged in classes, like cats and dogs, but conditions, growing out of one another. Is it not living in a continual mistake to look upon diseases as we do now, as separate entities, which must exist, like cats and dogs, instead of looking upon them as conditions, like the reactions of kindly nature, against the conditions in which we have placed ourselves?”

All these go on to show that we have been fooling the public all through by manipulating every field of science and medicine. A good medical student must keep his eyes and ears open to the truth wherever it might be. David Wootton, professor of history in Liverpool, in his book, Bad Medicine, shows how we have been harming patients since Hippocrates. No wonder cholesterol and statins are only the present avatar of this fraud!

“Nothing is lost, nothing is created ... all is transformed;

Nothing is the prey of death. All is the prey of life.”
Antoine Béchamp                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

(Professor Dr BM Hegde, a Padma Bhushan awardee in 2010, is an MD, PhD, FRCP (London, Edinburgh, Glasgow & Dublin), FACC and FAMS. He is also Editor-in-Chief of the Journal of the Science of Healing Outcomes, chairman of the State Health Society's Expert Committee, Govt of Bihar, Patna. He is former Vice Chancellor of Manipal University at Mangalore and former professor for Cardiology of the Middlesex Hospital Medical School, University of London.)



rajan chopra

3 years ago

many many thanks for tjis prestigious informative article.regards.

Suiketu Shah

3 years ago

Wonderful article.Its also a shame no importance is given to a glutene-free diet in India at all,even in products sold by MNC's.

Home buyers’ checklist while dealing with the builder, developer

 The third part of the multi-part series details an exhaustive checklist for home buyers that would help them avoid the Campa Cola like situation

Property buying is not all that simple though it is one of the most important investments one can make. Therefore, it is imperative that you make sure you do all the right things before buying a home, flat, bungalow or any real estate property. It is a rather complicated process. Fortunately, by following this property buying checklist guide, one can make sure that she stays safe and smart while buying the dream home. The only qualification as on date to be a builder is to have a sweet tongue and a smiling face.

For cooperative housing societies, which want to go for conveyance deed or deemed conveyance, the notice to the builder should state that he should submit all documents whichever are in his possession to the society.

In the run up to the Moneylife Foundation seminar to be held on 23rd November, Vinod Sampat has listed out an exhaustive list of things to keep in mind below. Before reading the rest of the article, you may want to register for the seminar beforehand as seats are on first-come, first-served basis and limited in numbers.

STAGE 1: Before property buying

1.1 MOU through which you acquired the property

1.2 Title search papers. Checking 7/12 utara and details of CTS plan. Copies of stamp duty payment /registration. Index of all the purchaser’s mutation Report. DP remarks.
KJP (Kami JastaPatra) / CTS / survey nos and verification of property card

1.3 Public notice in newspapers before purchase of property

1.4 ROC registration check

1.5 Check done with regards to Litigation as regards the said property

1.6 Copy of agreement with the vendor

STAGE 2: Before intimation of disapproval (iod) is issued for development of plot 

2.1 Demarcation of Plot (Fencing and Boundry)

2.2 Obtain property card in owners name

2.3 Urban Land Ceiling (ULC) clearance

2.4 Check zone

2.5 Redevelopment permission

2.6 DP remarks

2.7 Forest/ private forest

2.8 Labour NOC

2.9 Highway NOC

2.10 CRZ NOC (1,2,3 or 4)

2.11 Zone conversion

2.12 Amalgamation of property

2.13 NOC from MMRDA, if applicable

2.14 Survey of the plot to confirm the following: a) Existing ground levels (w r t to THD)
b) Site elevation remarks c) Sewage Line d) Over Head (OH) Line e) MTNL Line f) Water Line g) Road Level (w r t THD) h) Soil Investigation Report

2.15 FSI related (a) Evaluation of existing FSI and Maximum usage / exploitation of plot (b) Type of additional FSI required / TDR arrangement etc and Loading the same

2.16 Broad evaluation of proposed project

2.17 Selection of architect (For BMC approval)

2.18 Approval of architect

2.19 Preparation of documents to be given to architect for submitting of proposal to SRA / MCGM

(a) Plan submission by architect

(b) Ownership document i.e. 7/12, 6/12, CTS plan, PRC and KJP

2.20 Selection of various consultants based on project a) structural consultant b) services consultant c) design architect d) environment consultant e) aviation consultant f) license plumber

2.21 Soil investigation

2.22 Receipt of IOD

2.23 Consent to establish (If applicable)

2.24 Special planning authority

2.25 Railway authority NOC

2.26 Heritage conservation committee

2.27 NOC for cessed property in island city

2.28 Public parking lot

STAGE 3: The following conditions to be complied with on receipt of intimation of disapproval (IOD) further to which we go ahead to CC upto plinth Level

3.1 SWD remarks

3.2 NOC / drainage approval from EE sewerage

3.3 NOC from HE

3.4 CFO, NOC

3.5 Traffic and co-ordination (if regular proposal)

3.6 NOC from mechanical and electrical

3.7 NOC from high rise committee

3.8 NOC from MoEF

3.9 Tree NOC

3.10 Appointment and acceptance of architect

3.11 Appointment and acceptance of site supervisor

3.12 Appointment and acceptance letter of structural consultant

3.13 Photocopy of licenses of all licensed consultants

3.14 Photocopy of license of site supervisor


3.16 Borewell permission

3.17 HE NOC 3.18 No due certificate from AEWW

3.18 NOC from AE (Environment) from debris disposal

3.19 CTS plans

3.20 PR card

3.21 DP remarks

3.22 Rain water harvesting system

3.23 Non-agricultural permission

3.24 DP road PRC on MCGM name, if any

3.25 Registered undertaking (RUT) for agreeing to handover set back area, if any

3.26 Indemnity bond for damages risk, accidents

3.27 Undertaking regarding no nuisance

3.28 Regular/ sanctioned / proposed lines and reservation to be demarcated through AE survey

3.29 Appointment of license plumber

3.30 NOC from assistant assessor and collector

3.31 RUT for not misusing stilt, pocket terrace etc

3.32 NOC from Reliance Energy

3.33 NOC from pest control dept

3.34 Insurance policy for workers

3.35 Janata insurance policy

3.36 RUT for not misusing basement

3.37 Certificate from structural engineer for complying requirement for earthquake design

3.38 Soil investigation report

3.39 Structural design and calculation with drawing by structural engineer

3.40 NOC from Airport Authority of India

3.41 Revalidation of ULC NOC, if required

3.42 Location clearance from police commissioner

3.43 NOC of PWD for theatre building

3.44 Labour license (to be taken by principal employer and handed over to contractor)

3.45 Submission of proposals with compliance to SRA / MCGM

3.46 Preparation of estimates

3.47 Preparation of execution plan

3.48 Approval of execution plan

3.49 Completing preliminary work before commencement of project

3.50 Batching plant approval, if necessary

3.51 STP approval, size, location & capacity

3.52 NOC from environment section

3.53 Street light remarks

3.54 Approval of road consultant design from road department

STAGE 4: Compliances after receipt of CC (Plinth level CC to full CC)

4.1 Award contract for construction

4.2 Statutory compliances for labour laws

4.3 Obtain Sanctions for:- a) temporary water connection (requirement of bore well, if any) b) temporary electrical connection c) temporary drainage connection, if required d) temporary structures

4.4 Excavation permission (royalty)

4.5 Checking of CC conditions and offsets

4.6 Arrange plinth level inspection

4.7 Plinth certificate from RCC consultant

4.8 Completion certificate from all consultants such as architects, licensed site supervisor, RCC, PMC, TPQA (third party quality audit) and peer review of RCC consultant

4.9 Application of Full CC

STAGE 5: CC to OC and compliances before applying for OC

5.1 Progress as per sanctioned plans

5.2 Review of project costs

Comply with the following before applying for OC

a) RCC consultant’s stability Certificate & RCC plan duly pasted on canvas

b) Fire NOC by CFO


d) Lift inspector's NOC

e) Electric inspector NOC (Permanent Power & Substation etc)

f) Sewage dept NOC / drainage completion certificate

g) Diesel generator approval and registration

h) Final tree NOC

i) STP environmental clearance

j) STP work completion certificate

k) HE specific NOC for hydro-pneumatic system

l) PWD completion for theatre bldg

m) SWD completion certificate

n) Dry fittings approval (water pipe related)

o) Terrace looping for water line

p) Submission of 'P' form parallel

Receipt of OC

1) Road digging permission for laying water pipe line

2) Water connection (certificate)

3) Handing over property to new owners

4) Demobilisation

5) Closing accounts

a) Debris disposal receipt before submitting application for BCC 270 

Permission from water department Receipt of Building Completion Certificate (BCC)

STAGE 6: Conveyance to new owner (documents required to apply for conveyance)

6.1 7/12 Abstract / CTS

6.2 Search report and title clearance certificate from advocate

6.3 Index II of earlier owner

6.4 Property card of earlier owner

6.5 Conveyance deed of earlier owner with the name appearing in the proper card / 7/12

6.6 Transactions and chain of documents pertaining to the same as stated in the title report

6.7 Development agreement duly stamped, if applicable

6.8 CC issued by MCGM

6.9 OC issue by MCGM + approved plan

6.10 BCC issued by MCGM

6.11 Proof of individual payment of registration fee

6.12 Original agreements executed by the builder with individual flat purchasers

6.13 Copy of IOD

6.14 Copy of previous Power of Attorney (if any)

6.15 ULC order, if applicable (normally under section 20 or 22)

6.16 Copy of list of NA Tax bill by the builder / land tax – collector documents that the builder will handover to the new owner

a) Original documents of title to the property

b) Property power of attorney

c) Architectural and structural drawings

d) Audited statements of accounts for the amount collected by the developer / builder

e) Handing over all statutory approvals in original

f) Property tax to MCGM ii) tax clearance certificate (Check if a certificate such as No Dues Certificate be obtained)

STAGE 7: Highrise Committee (HRC) Checklist (if applicable)

7.1 Application form

7.2 Project personnel on record and contact information (Appendix-A)

7.3 Plot and geotechnical information (Appendix-B)

7.4 Conceptual location plan (1-3Km)

7.5 Architectural Set a) Site Plan b) All Floor Plans and FSI Calculations c) Elevations d) Sections

7.6 Structural a) Drawings b) Report c) Wind Tunnel Analysis d) Peer Review

7.7 DC Regulation clearance

7.8 Environment clearance

7.9 Soil investigation report

7.10 Shadow analysis

7.11 Airflow analysis

7.12 Traffic analysis

7.13 Water and waste water management plan

7.14 Safety and disaster management plan

7.15 Site summary report (To be made available at site at the time of Site Visit by technical committee for High Rise Building along with Site plan & all Architectural Drawings)

Stage 8 Environmental Clearance (EC) Checklist - State Level Expert Appraisal Committee (if applicable)

8.1 Application Form consisting of Appendix A (form 1) and Appendix B (form 1A)

Key Inputs:

a) Basic information of project

b) Activity

c) Use of natural resources in project

d) Use, storage, handling and production of materials

e) Production of solid wastes during construction or operation or decommissioning

f) Release of pollutants or hazardous substance to air

g) Generation of noise, emission and vibration of light and heat

h) Risks of contamination of land and water from releases of pollutants into ground or into sewers, surface waters, groundwater, coastal waters or sea.

i) Risk of accidents during construction or operation of the project, which could affect human health or the environment

j) Factors which should be considered (such as consequential development) which could lead to environmental effects

8.2 Environment sensitivity

8.3 Environmental impacts

a) Land environment

b) Water environment

c) Vegetation

d) Fauna

e) Air environment

f) Aesthetics

g) Socio-economic aspects

h) Building materials

i) Energy conservation

j) Environmental management plan

8.4 Environmental infrastructure

a) Solid waste management

b) Waste water treatment

c) Green area

d) Rain water harvesting

e) Energy conservation measures

f) Water requirement

g) Sewer line and drainage line details

h) Details of the EMP

i) Disaster management plan

8.6 List of native trees suitable for beautification in garden / building premises

Stage 9: Building and Other Construction (boc) Workers Act 1996, Contract Labour (Regulation and Abolition) Act (CLA), 1970 and Maharashtra Contract Labour (Regulation & Abolition) Rule, 1971

9.1 Registration of principal employer owning the site (as per CLA)

9.2 Registration of contractors under contract Labour Regulation Act (as per CLA)

9.3 Registration of labour working at site by payment of Rs25 towards enrolment and Rs60 towards annual subscription. Total Rs85 per labour (by the contractor) (as per BOC)

9.4 Maintenance of records together with the safety provisions as follows:-

a) Every worker must wear and carry gumboots, helmets, safety belts and hand gloves

b) Muster cum wages register

c) Minimum wage

d) Labour camp / accommodation

e) Drinking water facility. It should be at least 100 mtr away from Urinals

f) Latrines and urinals separate for male / female

g) Crèches

h) Provision of First Aid

i) Medical check up at regular intervals by Govt medical officer

j) Canteens (250 workers)

k)  Safety Officer

l) Identity Card for each

m) Fixing hours of work

n) Fire protection

o) Emergency action plans

p) Health and safety policy

q) Eye protective

r) Dust, Gases, Furness etc

s) Provision of Nets across the site

t) Appropriate, preferably metal scaffoldings

Stage 10: Public Parking Lot Checklist - Parallel activity at any stage of IOD, CC or OC (if applicable)

10. 1 Proposal submitted to Road Dept, MCGM

10.2 Road Dept sends note to a) Jt CP – NOC b) CFO NOC c) Bldg Proposal NOC d) Urban Dept

10.3 Minutes approved on HPC (High Power Committee of MCGM)

10.4 UDD approves in principal

10.5 Sent to road department with remarks

10.6 LOI issued

Stay tuned for the 4th part which will be published tomorrow in the run up to Vinod Sampat’s seminar. Register for the Moneylife Foundation Event by Vinod Sampat.

Check the first part over here:

Check the second part here:



Those seeking help or advice on CHS issues can contact
Moneylife Foundation’s Legal Resource Centre (LRC) ( )

(Adv Vinod Sampat is a practising lawyer since past 28 years. He has authored several articles on property-related matters and written 46 books on cooperative societies, transfer of flats, recovery of dues, registration and stamp duty matters. He has been an Hon. Patron member of the Estate Agents Association of India. He is also the Hon. Advisor of the Federation of Accommodation Industry of India and is an advisor to the Maharashtra Chamber of Housing Industry as well as the Federation of Accommodation Industry in India, apart from being part of many committees and winning several honours.)



arun adalja

3 years ago

good ainformation but practically it is impossible to get all things mentioned in article.

Amey Kubal

3 years ago

Fantastic and exhaustive article...I am buying a flat in an under construction project in Pune..this is going to help me a lot and reduce the burden on my head before I go ahead. Way to go...Hats off.

We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)